Tag Archives: bearish engulfing pattern

Microsoft (MSFT) candlestick chart

Bearish Engulfing Pattern for Microsoft
Bearish engulfing pattern on the daily candlestick chart for Microsoft.

Microsoft (MSFT) 6 Month Daily Chart

Microsoft Reports Record Fourth-Quarter and Full-Year Revenue.

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

© 2012 TradeOnline.ca

TSX at an advanced stage in this intermediate swing

Major support is now 13,500 for the TSX composite index.
Technical analysis - A bearish engulfing candlestick pattern for the tsx index which could not hold 14,000

1-Year Weekly Chart for the TSX Composite Index

From the July 5, 2010 low of 11,065; the index gained 29.5% to the March 7, 2011 high of 14,329.  This has been a significant move  over this eight month period. I usually look for reversal patterns to develop when the market has an intermediate move of 20%.  The TSX is at an advanced stage in this intermediate swing and any technical evidence indicating a reversal must be taken seriously. In other words, the odds of a  correction are much greater than the odds of an upward move.

Reference the two-year weekly annotated chart for the S&P/TSX composite index to get an overall perspective for the market.

Suncor candlestick chart analysis

Bearish engulfing candlestick pattern on the weekly chart.
Suncor weekly chart shows the bearish engulfing candlestick pattern with support at the 50 day moving average and major support at $40

Suncor 2-Year Weekly Chart

The previous post of the chart analysis for Suncor was based on the daily candlesticks.  This analysis is based on the weekly chart and shows the same information from a different viewpoint.  Current support is at the 40 to 50 day moving average with major support at $40.  We do not want to see Suncor close below support at $40.00.

This is not the best looking chart over the two-year period: the major trend has been sideways.

Fundamental data for Suncor to complete your evaluation of this TSX listed stock.

Some of the other Canadian stocks that have been featured include: Encana, Precision Drilling, Riocan, BMO, Shoppers Drug Mart, and  BCE.

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years.

Copyright © TradeOnline.ca All rights reserved

Is the sun still shining on Suncor?

A confluence of negative technical indicators for Suncor on the daily chart.
Technical analysis for Suncor using a candlestick chart, moving averages, OBV and MACD

Suncor 6-Month Daily Candlestick Chart

Major support for Suncor is at $40.00 on this daily candlestick chart.  You must monitor the chart at this stage for a candlestick pattern that indicates the stock can hold this support level.  The near-term trend is down: Suncor has moved below the 10 day and 20 day moving averages.  Can the stock hold the 40 day moving average?

Please reference the the March 11, 2011 weekly chart of Suncor for another perspective.

The February 6, 2011 chart shows Suncor struggling at the $40 level which is now major support.

Bearish Engulfing Pattern for Shoppers Drug Mart

Shoppers Drug Mart could not break $41.

Your online trading success does not depend on your predictions for the market: your success depends on your online trades in reaction to market signals.

Bearish Engulfing Pattern for Shoppers Drug Mart on the 3 month daily candlestick chart

 

Updated article on Shoppers published in the National Post on March 30, 2011: Expanded Shoppers Drug services could help earnings, analyst says.

Please reference three previous posts on Shoppers Drug Mart.

  1. Shooting star candlestick for Shoppers Drug Mart
  2. Shoppers Drug Mart (SC) breaks resistance at $40
  3. Shoppers Drug Mart –  Bullish white candlestick

85.2% gain in the TSX since March, 2009

Technical analysis gives you a snapshot of the S&P/TSX composite.

It has been a good run, and now is the time to closely monitor the candlestick charts and confirming indicators for a top reversal pattern.

Technical Analysis - 2 year weekly annotated candlestick chart for the TSX showing trend lines, piercing patterns, tweezers bottom, bullish engulfing pattern and the mighty hammer.

2-Year Weekly Candlestick Chart for the TSX

This is an excellent article from the National Post covering the fundamental valuation metrics for different markets: Did I miss the rally?

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Note: This analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own analysis or consult your financial advisor before making investment decisions.

The chart snippets are from BigCharts.com which I recommend and have used for fifteen years.

Copyright © TradeOnline.ca All rights reserved